Zion Research has released a new report titled “Home Healthcare (Diagnostics and Monitoring Devices, Therapeutic Home Healthcare Devices, Mobility Assist Devices and Medical Supplies) Market for Rehabilitation, Telehealth and Telemedicine, Respiratory Therapy, Infusion Therapy and Unskilled Home Healthcare Services – Global Industry Perspective, Comprehensive Analysis, Size, Share, Trends, Segment and Forecast 2014 – 2020.” According to the report, global demand for home healthcare market was valued at USD 190.0 billion in 2014 and is expected to reach USD 300.0 billion by 2020, expanding at a CAGR of slightly above 8% between 2015 and 2020.

Home healthcare is particularly referred as home medical care. It involves assisting older people to improve from an injury or illness and survive. It covers a wide range of services and helps to delay requirement for long-term nursing home care. Home health care include, speech therapy, occupational and physical therapy and skilled nursing. It also involved geriatric people with activities such as bathing, eating and dressing. Further, it may also include help in cooking, cleaning, and other housekeeping. Home health care professionals are generally licensed practical therapists, nurses, or home health aides and work for hospitals, home health agencies, public health departments licensed by the government.

Aging demographics, varying customer preferences and comparative cost of service are the major factors that affect the demand of home health care services. The global home healthcare market is mainly driven by increasing aging population and growth in the incidence of chronic conditions due to diabetes cardiac disorders and respiratory diseases. Increasing health awareness worldwide is expected to support the demand for home healthcare in the next few years. The development of managed care and payment mechanisms used by insurers and other payers in an effort to control the rate of health care spending has main impact on home health care services. Favorable compensation policies has offered strong boost to home healthcare market, particularly in North America. However, increased regulation and changing reimbursement policies are anticipated to limit the home healthcare services growth to some extent during forecast period.

Global home healthcare market has been segmented on the basis of key products into diagnostics and monitoring home devices, mobility assists devices and therapeutics home healthcare devices. Diagnostic and monitoring devices are extensively employed for pregnancy test kits, blood pressure monitors, heart rate monitors and temperature monitors among others. Diagnostic and monitoring device was one of the biggest product segments of global home healthcare market with highest share in 2014. Therapeutic devices include ventilators, CPAP devices, insulin delivery devices, and dialysis equipment. Therapeutic device is also one of the significant product segments and accounted for around 10% share in total revenue generated in 2014.

Different players involved in this market are telehealth and telemedicine services, rehabilitation services, infusion therapy services, unskilled home healthcare services and respiratory therapy services. In 2014, infusion therapy segment dominated home healthcare market with largest share. Global market was dominated by North America and accounted for the major share of the total revenue generated in 2014. Europe was the second largest regional market with 24% share of overall market in 2014. Increasing investments in healthcare by the European government helps market to grow in the region.

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